First contract signed for sale of Blesberg’s lithium ore to China

Marula Mining has signed a contract for an initial trial shipment of high-grade lithium ore from the Blesberg Lithium and Tantalum Mine with a Chinese importer and exporter of metalliferous ores.

Jason Brewer, Marula Mining PLC CEO said:

“Over the past several months there has been interest from multiple Chinese groups in our lithium mining and processing operations at the Blesberg Lithium and Tantalum Mine and this initial shipment of high-grade spodumene allows us to deliver material into that market.

“Whilst this agreement with a Chinese importer and exporter of metalliferous ores has the potential in our view to open up other opportunities in China for Marula, it is important to note that our focus remains firmly on concluding our negotiations on a long term offtake agreement with one of the several global commodity trading groups for the production of lithium from Blesberg.

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“The negotiations with the global commodity trading groups for an off-take agreement are ongoing for all or part of the future production from Blesberg.

“I look forward to updating our shareholders and investors on the progress of this initial shipment and on the finalisation of our long-term offtake agreement.”

Highlights

The company is also in the process of concluding its negotiations with a number of European based global commodity trading groups in respect to a long-term offtake agreement over spodumene and lithium products produced from the stockpiles at Blesberg and from the company’s broader development plans for the proposed Blesberg open pit mining operations